This is baffling me. I work in construction, since the IR35 blow up I've only been able to "work" on what is basically an IR35 through an umbrella basis which means I pay both bits of NI, tax on what is left etc. Pretty much I worked out 46% of my top line goes to the government one way or another, makes the risks I accept doing my job pointless for the "wages" I get, would you wish to put yourself at risk of going to stay at HMG's residence if you mess up for instance? Or lose your home...
So I've taken a job that is close to home, has next to no responsibility for not much less take home than I would get risking my reputation etc. if I was doing a management job.
This approach has been taken by a lot of people and has obviously had a major effect within the construction side. Many people that are in the same position as me have done what I have done and stepped away from the high personal risk works. That's why there are so many adverts for site managers... Why do it for £22 an hour when you can get £20 an hour driving a bloody fork truck. Or £50k a year driving a lorry basic plus over time if you want it.
Well I've been approached by an agency that says they can get me work under CIS rules from a well known top line construction company because they cannot get people with my skills unless they either bump the rates so high that 40% tax will be the norm if you only work two days a week (Which is where I am at weekends basically even now) unless they pay people using the Sole Trader/CIS route. I presume HMRC are ok with this, it means I become a "Sole Trader". Again. I was one before I had to go Ltd all those years ago...
Does this sound right? Because I'm tempted to go CIS, let them stop 20% at source and deal with the rest myself. And get back into managing some juicy construction projects. Because that's what I love doing.
Oh. And find an accountant I can actually trust to do the job I'm paying them to do...
So I've taken a job that is close to home, has next to no responsibility for not much less take home than I would get risking my reputation etc. if I was doing a management job.
This approach has been taken by a lot of people and has obviously had a major effect within the construction side. Many people that are in the same position as me have done what I have done and stepped away from the high personal risk works. That's why there are so many adverts for site managers... Why do it for £22 an hour when you can get £20 an hour driving a bloody fork truck. Or £50k a year driving a lorry basic plus over time if you want it.
Well I've been approached by an agency that says they can get me work under CIS rules from a well known top line construction company because they cannot get people with my skills unless they either bump the rates so high that 40% tax will be the norm if you only work two days a week (Which is where I am at weekends basically even now) unless they pay people using the Sole Trader/CIS route. I presume HMRC are ok with this, it means I become a "Sole Trader". Again. I was one before I had to go Ltd all those years ago...
Does this sound right? Because I'm tempted to go CIS, let them stop 20% at source and deal with the rest myself. And get back into managing some juicy construction projects. Because that's what I love doing.
Oh. And find an accountant I can actually trust to do the job I'm paying them to do...
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